Monday, 7 May 2012

MSM 1Q net profit up 7.05% to RM66.39m

KUALA LUMPUR (May 7): MSM Malaysia Holdings Bhd profits rose 7.05% in its first quarter ended Mar 31, 2012 to RM66.39 million from RM62.02 million a year ago, due to higher sales volume and average selling prices.

It said on Monday that its revenue for the quarter increased 5.68% to RM531.76 million from RM503.17 million a year earlier.

"The profit before tax for current quarter ended Mar 31 is 2% lower in other words RM88.0 million as compared to RM90.0 million for the same quarter last year due to lower gross profit margin recorded during the quarter as a result of higher cost of sales caused mainly by increase in raw sugar price," it added.

Earnings per share were 9.44 sen compared to 10.76 sen a year earlier.